Cryptocurrency TRADE Hyperlique has recently faced a major controversy, to which BITGET’s CEO Gracy Chen has reacted sharply. He called it “Next FTX” after a controversial trading event associated with Hyperlique’s Jelly Token. This statement is a warning for platforms that are working in a centralized manner, describing themselves as decentralized. In this article, we will discuss the reasons about Gracy Chen and the reasons behind his statement. If you Bitget If you want more information about, then you can click on the link.
Hyperlique and Gracy Chen’s statement after Jelly event
On March 26, 2023, there was an unusual trading event with Jelly Token on Hyperlique, in which a trader opened a $ 6 million short position and later the same trader enhanced the on-chant price of the token and got its position liquidated. Following the incident, Hyperliquid delivered futures contracts for Jelly and promised to compensate the users.
Reacting to this trading event, the CEO gracy of Crypto Trade Bitget questioned the lack of professionalism of Hyperliquid and described it as a step -by -step step like Crypto Trade FTX. Gracy Chen said that if such decisions continue, Hyperlique Later will become Ftx and this can break the trust of users. He also said that if the platforms work in a centralized manner, claiming to be decentralized, it can pose a serious risk.
Gracy Chen’s background and career starts
Gracy Chen’s career started with media and television, where he worked as a host for finance and technology shows. During this time he got an opportunity to interact with the impressive leaders of the industry, which he Cryptocurrency Learn about the world of In 2015, deep interest in tech and finance and exposure inspired him to step into blockchain and crypto space.
Subsequently, Gracy established two startups in the space of Fintech and Virtual Reality. He got to learn a lot from his ventures. He then obtained an MBA degree from MIT, which further deepened his business and technology. Gracy then decided to join Bitget and played an important role in promoting the platform’s global strategy and partnerships. His deep understanding in the field of finance and technology gave him an opportunity to lead Bitget as CEO.
Conclusion
Bitget’s CEO gracy Chen has taken up an important aspect from its leadership and experience in the crypto space, which has been very carefully observed after the recent decision of Hyperlique. His statement is a warning not only for hyperlique, but also to the overall crypto industry that platforms claiming to be decentralized should maintain complete transparency and professionalism in their processes and decisions. If they do not do so, it can be difficult for them to maintain trust and credibility, as with FTX. The approach of gracy emphasizes that alert and conscious decisions should be taken regarding the future of the crypto industry.
